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July 29, 2016

Brembo records H1 revenue up 10% to EUR1.15bn

Brembo has filed half year revenue up 10.4% to EUR1.15bn (US$1.28bn), while EBITDA rose 29.5% to EUR226.5m.

Brembo has filed half year revenue up 10.4% to EUR1.15bn (US$1.28bn), while EBITDA rose 29.5% to EUR226.5m.

Net financial debt amounted to EUR259.4m, slightly up compared to the first half of 2015 due to investments made. Net investments were EUR113m.

"The results achieved in the first six months of the year confirm the effectiveness of Brembo's global expansion strategy," said Brembo chairman, Alberto Bombassei. In fact, the Group continues to grow and strengthen its industrial footprint both in rapidly growing markets, such as China and India and in the company's main markets, such as North America and Europe.

"However, I would like to highlight Italy continues to be key to Brembo's plans. This is not only because our Research Centre, which is designing the future of the entire Group, is based in Italy, in the Kilometro Rosso Scientific and Technological Park, but also for the irreplaceable productions of the Curno and Mapello plants.

"Lastly, I would like to recall in a few days' time, construction work will start for the new manufacturing plant in Nanjing. Just two months from the finalisation of the acquisition of a 66% stake in Asimco Meilian Braking Systems, the new Chinese plant is a further, tangible sign of our determination to grow in this strategic market and to position as a top player in this geographical area as well.

"Thanks to the expertise of the Brembo team, which concluded, amongst others, the work at the Homer site in the US and at the Escobedo plant in Mexico, to be inaugurated by the end of 2016, the Nanjing plant will be completed at a record speed and will be a centre of excellence in terms of process innovation and vertical integration." 

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